FINALLY! GOOD NEWS: Senate JUST RELEASED NEW Stimulus Package, HEALS Act & $1200 2nd Stimulus Check

This is BIG NEWS! And good news for dependent stimulus payment.
So today, after so much back and forth, Senate Majority Leader Mitch McConnell announced the HEALS Act, which is the Republican stimulus package proposal we’ve all been waiting for. HEALS stands for Health, Economic Assistance, Liability Protection, and Schools.

In the previous update, we covered some of the expected details of this stimulus package. And now we have an official list of provisions in this package.
In this quick update, I’ll do my best to break down the qualification details of the second $1200 stimulus check included in this package.
What is the stimulus check amount and who qualifies?
This stimulus package proposes a second $1,200 stimulus check. The second round of checks will follow the same eligibility formula as the first round, according to a memo from the Senate Finance Committee:
Basically, individuals earning a gross adjusted income up to $75,000 per year in 2019, and couples earning $150,000, will receive the full $1,200 or $2,400, respectively. From there, the checks will be reduced by $50 for every $1000 in income, phasing out completely at $99,000 and $198,000.

Will Social Security Income SSI recipients qualify?
The answer is yes. People who have no income and those who receive SSI benefits are still eligible for the full $1200 payment.

Will Dependents or children get the stimulus payment?
This package includes $500 for each dependent. But unlike the CARES Act, college students and other adult dependents will be receiving a check.
There is no dependent payment limit at age 17 like we saw with the first stimulus checks!

This is your Second Stimulus Check update and stimulus check 2 update as of Monday, July 27th. We cover the second stimulus check, the stimulus update, and also the next stimulus package.
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